Vancouver's Real Estate Market

[welfare]

Originally Posted by Badhobz

I had a similar goal. Buy a house, buy a nice car, get a wife, and have zero kids before im 40. You know whats the biggest contributor to all of these things? Luck!

I got lucky finding a good job with the railroads and now the ports.
I got lucky finding a wife whos supportive and financially secure
I got lucky buying my house in Richmond for 500k back in 2008
I got lucky with my investments turning out and paying off my house

sometimes shit happens, other times you just get lucky.

Don't be so modest. What I see is an ability not only to recognize opportunity knocking, but to answer when it does.
Unfortunately, a quality not everyone possesses

[Sw0op]

Originally Posted by welfare

Don't be so modest. What I see is an ability not only to recognize opportunity knocking, but to answer when it does.
Unfortunately, a quality not everyone possesses

Exactly...the locals who are buying and have bought multiple properties have to be commended for making the right decision so far....people are crying now cuz they haven't...It takes guts to spend that much money and your life savings for a home...people will always cry and talk but a lot of people want things handed to them and are scared to make sacrifices to own something

[westopher]

Thats a pretty narrow viewpoint of whats going on.
There are plenty of people that have shit they didn't earn, and plenty of people that put in the work and were held back by circumstance.
A lot of homeowners in Vancouver really accomplished nothing more than being born into the right generation, when homes were a couple years wage instead of 20.
Badhobz humility is refreshing. Hes a successful guy, and we know he worked for it. People can see it without shouting it from the rooftops.

[Tapioca]

People are discussing that somewhat flawed academic study that compares immigration data and the amount of supply being built in Metro Vancouver. However, here's a pretty straight forward population distribution picture which shows why young families and millennials are buying anything available, no matter how small or shitty:

https://twitter.com/YVRHousing/statu...596575744?s=09

[CivicBlues]

Originally Posted by Rallydrv

Weird nobody posted this

https://www.google.ca/amp/www.cbc.ca/amp/1.4422668

Isn't this the same Realtor that threatened a gangland hit on one of her buyers a couple of years ago?

[RiceIntegraRS]

After hearing theses stories about people making it work and doing what they could to buy. I'd like to hear peoples stories about how they can't. Instead of the same "Vancouver's too expensive" story

[westopher]

They aren’t on here because they don’t own cars.
Remember the demographic of RS isn’t your average young Vancouver citizen. If you can’t blow a few grand a year on modding your car you likely won’t be posting here.

[stewie]

Originally Posted by RiceIntegraRS

After hearing theses stories about people making it work and doing what they could to buy. I'd like to hear peoples stories about how they can't. Instead of the same "Vancouver's too expensive" story

I'm fully open about it.

Medical.

Great job. Got hit with health problems turning the next few years of my life being in and out of hospitals and generally having someone keep tabs on me for 90% of the day. (age 24 - few weeks before my 28th birthday).

Although I am in a union, it wasn't a work related problem so I had to go on long term sick leave. You know what your monthly income is on that? Less than what a welfare person receives. During that time I was unable to purchase anything and now that I'm ready and trying to buy a place everything is out of my grasp. I'm doing my best as I can now but it's just not enough to keep up.

[Gh0st]

Originally Posted by Gerbs

What'd you buy as your fun car then lost 10k on lol

M5

[CivicBlues]

Originally Posted by westopher

They aren’t on here because they don’t own cars.
Remember the demographic of RS isn’t your average young Vancouver citizen. If you can’t blow a few grand a year on modding your car you likely won’t be posting here.

To be fair, a lot of us did car mods in the late 90s and early 2000s when it was affordable to do so and not to mention, when we were living at home. We just stuck around RS for 15 years afterwards cuz we love it so much .

[MarkyMark]

The thing is a lot of these stories about how people made it work start with "I lived with my parents rent free while working full time and saving every penny". That's a HUGE benefit to have over someone who isn't in that situation. Add the cost of rent these days and what took you a few years of hard saving takes someone else 10+.

[Tapioca]

Lots of lament about the old North American lifestyle of moving out at 18, driving fast cars that didn't take a computer to fix, having casual relationships, and stumbling into a union job in your late 20s toward middle class prosperity. That's how my dad's life played out and now he and my mom are sitting on over 1.5 million in land value.

Today, 20 and 30 somethings are fighting for scraps in the condo market, living in mouldy basement suites, experiencing high levels of social anxiety, and are facing record levels of student debt with low wages and jobs that are increasingly being automated.

It's not hard to understand the frustration.

[Gh0st]

Originally Posted by MarkyMark

The thing is a lot of these stories about how people made it work start with "I lived with my parents rent free while working full time and saving every penny". That's a HUGE benefit to have over someone who isn't in that situation. Add the cost of rent these days and what took you a few years of hard saving takes someone else 10+.

Apparently that's the new reality, unless you're willing to work 7 days a week and never see your family you're a lazy cunt who doesn't want to do what it takes to stay afloat. You can take that lifestyle and shove it up your ass. Enjoy your house, as well as the early grave you dug yourself being sleep deprived for 40 years working yourself to death, your kids will appreciate the early inheritance.

lol is there a problem with that? I read a few of your recent posts and you seem so bitter about people who work extra hard to get what they want or make lifestyle changes to achieve their goals - even if that means moving back home for a few years to save equity.

people get shit on because they live pay cheque to pay cheque, spend beyond their means, renting 2500 dollar yaletown condos and when they correct those behaviors by making sound financial choices and working hard, they also get shit on by people like you. lol there is just no winning eh?

[MarkyMark]

Originally Posted by Gh0st

lol is there a problem with that? I read a few of your recent posts and you seem so bitter about people who work extra hard to get what they want or make lifestyle changes to achieve their goals - even if that means moving back home for a few years to save equity.

people get shit on because they live pay cheque to pay cheque, spend beyond their means, renting 2500 dollar yaletown condos and when they correct those behaviors by making sound financial choices and working hard, they also get shit on by people like you. lol there is just no winning eh?

I'm not shitting on people who lived with their parents, I did it myself. I just think something's wrong if the only options are hoping you have the opportunity to live rent free, or kill yourself working 7 days a week for years to save up for a down payment.

[SoNaRWaVe]

everyones situation is different. not everyone is blessed with a good paying job.

the only thing wrong is if that said person is not willing or doing something about it to make it better for themselves.

[hud 91gt]

If you make the average Canadian wage, renting in any sort of suite in Vancouver without other financial help. I'm going to go ahead and say it is literally impossible to afford housing here starting from scratch. 40k a year. 30-33k take home? 12k on rent. That's living on $1800 a month. The inflation of housing out paces any possibility of saving for a down payment one might need.

This is the issue. But I guess this is where you can't expect to own in the most expensive place in Canada.

[lowside67]

Originally Posted by SoNaRWaVe

everyones situation is different. not everyone is blessed with a good paying job.

the only thing wrong is if that said person is not willing or doing something about it to make it better for themselves.

Nobody is “blessed” with a good paying job. They earn them. There are no $200k/yr jobs that you get with no education, no sales pressure, and easy work.

You either earn it by putting your time in at school (I mean like medical school, not a Bachelor of Arts while you get baked every day) or you work your ass off and prove yourself through work ethic and results in a sales type job. An oversimplification for sure but the simple truth is pay is matched with work, stress, and difficulty - otherwise somebody else would do it for less.

-Mark

[Hondaracer]

But that CEO or business owner was just gifted that position/business!

having that laundry list of credentials or puting in YEARS of hard work shouldnt be rewarded!

People in that whole 1% argument often dont realize the amount of liability these people in upper management positions have regarding their subordinates.

Obviously examples like some CEO of a pharma company who's making 25 mill a year is a different story, but the business owner/ceo/VP of a company where you are making 2/3/400k a year assume MASSIVE liability and responsibility. The type of shit where you could lose a good portion, or all of your wealth in an instant.

[stewie]

Originally Posted by lowside67

Nobody is “blessed” with a good paying job. They earn them. There are no $200k/yr jobs that you get with no education, no sales pressure, and easy work.

You either earn it by putting your time in at school (I mean like medical school, not a Bachelor of Arts while you get baked every day) or you work your ass off and prove yourself through work ethic and results in a sales type job. An oversimplification for sure but the simple truth is pay is matched with work, stress, and difficulty - otherwise somebody else would do it for less.

-Mark

Some people are blessed with amazing jobs while they've invested half the effort as everyone else who applied for the position. I know several people who have jobs that pay quite well and only have it thanks to a family member. Social networking goes a long way. You build your connections and after 40 years of doing so and now having a child who's a fresh graduate you reach out to a few friends, old colleagues, past bosses, and ask if they've anything that can help your kid out. They think about it and one of them will be able to offer a job that won't be insulting to them. They'll still need to work hard but they just passed a giant hurdle that most can't get past, getting a decent job that has opportunity to move up higher. Having close personal family ties helps.

Me and my girlfriend were talking about this the other day. Her friend just passed the bar exam and because her father has hookups she's now working in a law firm while all the others who passed the exam are still having a hard time just finding work. Some even working for free just for the experience on their resume.

[DragonChi]

Originally Posted by lowside67

Nobody is “blessed” with a good paying job. They earn them. There are no $200k/yr jobs that you get with no education, no sales pressure, and easy work.

You either earn it by putting your time in at school (I mean like medical school, not a Bachelor of Arts while you get baked every day) or you work your ass off and prove yourself through work ethic and results in a sales type job. An oversimplification for sure but the simple truth is pay is matched with work, stress, and difficulty - otherwise somebody else would do it for less.

-Mark

I've seen many times where someone's dad works at a firm, and they have the inside advantage to get hired at the same company.

I'm not saying that they didn't need the required credentials, but lots of people can get degrees or education. Getting a sweet job after is another story.

[westopher]

Not to mention a financial safety net from family allows people the education, time and risk taking that is required to further you career than the 9-5, 18-65 route our parents could easily afford homes with.
To be successful it sometimes requires risks and a pay cut. You can’t take those if you are going to lose your apartment over missing a couple paycheques.

[Badhobz]

I think it really depends on what you define as "hard work". I couldnt be a plumber to save my life, but some people can and its relatively easy and stress-free for them. They can make 200k+ doing that. Get a useful degree is a good idea, but it boils down to connections, personality, and a strong resume.

Your field of work really influences your overall pay. Anything in transportation/logistics/marine usually pays more than things in retail, sales, etc.

[GS8]

Vancouver Real Life Market Thread

[welfare]

Having a job that you can do side work with helps a lot too

[welfare]

Originally Posted by SoNaRWaVe

the only thing wrong is if that said person is not willing or doing something about it to make it better for themselves.

This is what it boils down to, IMO.
I'm not saying people can get whatever they want if they just try, but if you're not doing everything in your available power to achieve a realistic goal, I have no sympathy.
That just makes sense to me.